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20121129
20121207
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Search Results 0 to 16 of about 17
CNN
Nov 30, 2012 2:00am PST
in the fiscal cliff debate. tax rates spike and spending slashed. congress is breaking for the holidays in two weeks. it could send the economy spinning in directions. $1.6 trillion in tax hikes. he will travel to pennsylvania to sell it to you. republicans aren't buying it. listen to house speaker, john boehner. >> despite the claims the president supports a balanced approach, the democrats have yet to get serious about real spending cuts. >> democrats are firing right back at boehner. harry reid getting a little personal. >> i don't understand his brain, so you should ask him. okay? >> ouch. athena jones live from washington. same old same old. where do we go from here? >> that's the big question. the nice talk after the election is pretty much gone away. you mentioned one of the big sticking points, that's taxes. republicans and democrats can't agree on how to raise the tax revenue? end the bush tax cuts for the wealthy, close the loopholes, raise the capital gains taxes or all of the above. right now, they can't agree on how much money should be raised on the revenue side. let's listen to
ABC
Dec 1, 2012 7:00am PST
to be moving on what they need to do to avoid a fiscal cliff and reach an agreement. republicans say no tax rate increases. democrats aren't giving in on entitlement reforms. is this just posturing? or are we in real trouble here? >> reporter: well, this is washington. the whole fiscal cliff is forcing them to do something. but you nailed it on the specifics. it is tax rates. the president has said that tax rates will go up for the wealthy. republicans won't bend on that. yesterday, john boehner said, we are at a stalemate. yes, this is posturing. yes, this is washington. we have four weeks to go. we're going to have ups and downs. >> ups and downs in the stock market, as well. david, thanks. have a great weekend. >> reporter: you, too. >>> now, to the star college basketball players accused of abusing their position as big men on campus. they're now facing burglary charges for allegedly stealing thousands of dollars of stuff from their fellow students. and abc's john muller is covering the story. john? >> reporter: good morning, dan. hofstra students say iphones, computers and even cash ha
CNN
Nov 30, 2012 4:00am PST
officials trading insults, playing the blame game here as the clock is winding down on the fiscal cliff. keep in mind time is a-wasting. in 32 days now tax rates soar, spending gets slashed. oh, and don't forget, congress, yeah, they get to take a break for the holidays in 14 days. a recipe for recession. the president is pitching a plan that calls for $1.6 trillion in tax heights and $50 billion in new infrastructure spending. he'll head to a manufacturing plant in pennsylvania to push all this. republicans aren't buying in. listen to house speaker john boehner's reaction. >> despite the claims that the president supports a balanced approach, the democrats have yet to get serious about real spending cuts. >> didn't take very long for democrats to hit back at speaker boehner. senate majority leader harry reid got up, a little personal. >> i don't understand his brain, so you should ask him. >> i don't understand his brain. let's go to washington this morning. wow, just when we thought they were getting closer seems like they're even farther apart this morning. >> yeah, you know, the nic
ABC
Dec 1, 2012 4:00am PST
. the whole fiscal cliff is forcing them to do something. the president has said that tax rates will go up for the wealthy. republicans won't bend on that yesterday, john boehner said, we are at a stalemate. this is posturing. this is washington. we're going to have ups and downs. >> ups and downs in the stock market, as well. david, thanks. have a great weekend. >> you, too. >>> now, to the star college basketball players accused of abusing their position as big men on campus. they're facing burglary charges for allegedly stealing thousands of dollars of stuff from their fellow students. and abc's john muller is covering the story. john? >> reporter: good morning, dan. hofstra students say iphones, computers and cash has been disappearing from their dormrooms all semester. one used an app to find their iphone. now, four players from the division i basketball team are under arrest. faces, covered in shame. hiding tears as they leave a long island courthouse. another man, pushing and even taking swings at a cameraman as he storms out of court. they are the stunned loved ones of four hofstra
Current
Nov 29, 2012 3:00am PST
is terrible for the market. well, the easiest way to end the uncertainty about the fiscal cliff and tax rates and their potential impact of the vast majority of americans as they go into this vital holiday shopping season that's pretty central to our economy is for us to pass that and say okay, that part of this is over. the $2,000 on average tax hike that most working families are facing, if we go over the cliff done, taken care of. now, let's work through the balance of increased revenue on the high income earners and spending cuts that we need to get done to achieve a roughly $4 trillion savings. >> bill: and closing loopholes and other issues. >> that's a difficult process. there's lots of detail to it. in my view, there's two bad outcomes here that are quite possible. first is we do nothing. which is -- something we seem to have shown some real capability of. but if we go over the if is cal cliff, which is really more of a slope than a cliff. it is not like y2k where january 1, everybody has a dramatic cuts in services an
CNN
Nov 29, 2012 9:00am PST
there will be no deal on the fiscal cliff unless both sides agree to raise rates on the wealthiest. that means raise tax rates for top earners. the reason that this is news is because there's been discussion publicly that perhaps they could find a rev new agreement where it would just involve capping deductions or maybe they could get to revenue just through tax reform, and with this piece of detail from that phone call yesterday, it would seem that the democrats, the president personally, is drawing a line saying those other ways are not enough. his campaign message that the top earners have to pay more, he is sticking to that line many these negotiations. >> jess, do we know how the republicans responded to this red line? >> well, speaker boehner was frustrated, wrovl, and came out with -- in his press conference today basically accusing the president of not leading on the issue. both sides are calling for the white house to come forward with spending cuts first, tell us where you are going to cut spending, before we, the republicans, will say whether we'll go along with you on tax rates. >> okay. the
CNBC
Nov 30, 2012 6:00am EST
dramatically higher interest rates because if they don't do a good deal for fiscal cliff and keep spending money, it's entirely possible this is going to be our come up -- >> the fed isn't big enough -- i thought i could count on rates below next year. >> i think demand is good. there will be a bit of inflation. people will be surprised. they ought to go get a mortgage now. they should be buying something now before that part of the economy heats up. housing stays strong. >> not europe. >> not europe. not asia. >> everyone is thinking about fiscal cliff. i have to go with i'm so worried about how many promises we've made in terms of $87 trillion of stuff we're not going to be able to afford and i am afraid we never, ever come to grips with it. >> that's why i think inflation is going to be an issue, joe, for exactly what you just said. kick the can does not last at 3% interest rates. it doesn't last. >> liesman is here. what's your -- he said if the jobless rate stays high is the biggest threat to 2013. why would the economy be bad? >> i'm worried about the long-term effect of joblessness
ABC
Nov 30, 2012 4:00am PST
that so-called fiscal cliff. but on capitol hill, talks there have pretty much hit an impasse at this point. neither republicans nor democrats seem willing to budge on the issue of tax rates for the wealthy. unless the two sides can reach some kind of deal, spending cuts and also tax hikes will collectively take effect starting january 1st. the clock is ticking. >> it is. >>> the united nations has overwhelmingly approved recognition of a palestinian state, a move staunchly opposed by the u.s. and israel. >> but in the west bank and gaza, palestinians, they celebrated on the streets. the historic vote upgrades palestine to nonmember nonvoting observer status only. meanwhile, u.s. ambassador, susan rice, she denounced the resolution. saying, quote, it's counterproductive to the goal of mideast peace. >> and the palestinian people will wake up tomorrow and find that little about their lives has changed, save that the prospects of a durable peace have only receded. >> rice added that the u.s. will continue to stand up against every effort that seeks to undermine israel's security
CBS
Nov 29, 2012 7:00am PST
geithner is up on capitol hill to lead negotiations on the fiscal cliff talks. >> you're not going to grow the economy if you raise taxes on the top two rates. that's not the right approach. >>> string of nasty storms barreling into the west coast. powerful winds have started knocking out power. >> just need to get to the other side of town. i don't have a choice. >> picked a bad day to do it? >> yeah. >> u.s. embassy in cairo is closed. the entrance is blocked by protesters as clashes erupt nearby. >> zebra and s hechlt tland pony ran wild through the streets of new york city. they apparently escaped from a petting zoo. >>> nypd says actress lindsay lohan has been raefed and charged with assault. >> three, two, one. >> only nbc would make a television event out of plugging something in. >> all that -- >> oh, humphries and rondo get into it. officials trying to get control here. >> don't tell me what i think. when i said i didn't have a problem, i don't have a problem. got it? >> and all that matters. >> president obama plans to play host to his old political rival, mitt romney. >> on "cbs
CNN
Nov 29, 2012 4:00am PST
the disastrous combination of tax rate increases and spending cuts now known as the fiscal cliff. >> president obama is sending tim geithner to the hill today to meet with multiple congress ohhal leaders. i want to bring in senator john barrasso, republican from wyoming. senator, good to see you. good morning. >> thanks for having me. >> let's begin with something that's been reported on by the wall street journal. which is something we heard a couple days ago. the fact that the president now appears to be flexible when it comes to the top 2%. quote, president obama signalled he wouldn'tnsist tax rates on upper income americans rise to clinton era peaks as part of a deficit reduction deal. the white house's flexibility first described by democrat erskine bowles after meetings with mr. obama and others confirmed by administration officials could envision tax rates increase from their current levels but less than clinton era levels. would you agree to a deal, senator? call it in the middle. 37%. >> well, the problem with that is raising those tax rates on those folks really doesn't address the m
CNN
Nov 30, 2012 6:00am PST
year. of course, if the fiscal cliff does come to be and the economy slows or dips back into recession, things will really slow down. what automakers are doing is continuing to push the sales of smaller cars, which is what the public wants, because tgas prics are rising. sales of these types of vehicles do real well in places like california where people drive long distances and where a lot of people are very concerned about the environment and want to drive hybrid or electric vehicles. so even though they haven't been so strong throughout the rest of the country, companies like general motors continue to push ahead with these vehicles. here is their newest introduction, which will be on the market in 2014. only available for sale in california and in oregon initially. this is the chevy spark. it is an all electric vehicle that will get somewhere south of 100 miles on a full charge. what's really cool about this vehicle is you'll be able to charge it up to 80% capacity in just 20 minutes. that is a challenge, though, getting the rest of america outside of places like california to buy
FOX News
Nov 30, 2012 6:00am PST
now. the cliff is basically the expiration of the tax rates and the across the board spending cuts of about 9% across defense and all domestic spending. that is the fiscal cliff. we shouldn't be dealing with other issues that are long term in order to avert the cliff as it were. that is immediate crisis. we have long term situation --. bill: but you know when lawmakers get a little bit of rope, you know, when they get time to think about it and push it off to the next year, it never gets done. this budget proposal, there are many who wonder whether or not even democrats could support it. the last budget that came from the white house went to the senate, it went 98-0 against it. no one voted for it. melissa: well, that was kind of a tricky parliamentary issue as well but, i do take issue with one thing, the idea we haven't dealt with entightments. we had two years, a year and a half we debated medicare. we made significant changes in medicare. we just had a campaign which republicans including governor romney time after time after time charged that we had cut $616 billion in spendin
FOX Business
Nov 29, 2012 11:00am EST
. the managing partner of mortgage banking solutions joins me from austin, texas with his fiscal cliff survival tips. thank you for being with us on our series this week. you say we are thinking of buying a home right now we should do it. why? >> interest rates at the lowest, affordability index at the highest, great time to buy, people are buying and we're seeing bottom form because of investors' coming in and picking the property, that has been displaced, get in and buy now, you not see this for decades. cheryl: i will lose mortgage interest deduction, there is talk about loopholes like primary properties, and you can sell it with no taxes paid with the rollover or not and changing that as well. that is negative for housing. >> they are losing that incentive, the tax incentive in the refund each month. when that goes away there's one more incentive to let go of that house when things get tight but here is the upside and this is why i recommend people look at this. the inflation component is going to kick in, they will go back up. it is and appreciation -- cheryl: we are talking about a four y
ABC
Dec 4, 2012 1:40am PST
and the president until the fiscal cliff is avoided. unlikely, but a reflection of voter frustration as both sides dig in. the white house demanding higher tax rates for the top two tax brackets, and the republicans refusing. after rejecting the obama administration proposal last week, house republicans offered an outline for $2.2 trillion in deficit reduction, mostly through spending cuts. and while president obama would not answer questions about the counterproposal -- >> no deal better than a bad deal, sir? >> reporter: -- a senior white house official assailed it as a step backward, saying if republicans do not agree to some higher rates for wealthier taxpayer, the nation will go over the cliff, and the american people will hold the republicans responsible. wall street remains optimistic a deal will be struck. so the lack of progress is not yet resulted in a market plunge. but some economists estimate that because of the uncertainty posed by the fiscal cliff, at least 200,000 fewer jobs have been created this year. the official deadline is december 31st at midnight when the ball drops in times
KRON
Nov 29, 2012 4:00am PST
is sending representatives to capitol hill to find a solution for the impending fiscal cliff today. republicans complained the white house has yet to provide specifics about how the president would curve the rapid growth of programs like medicare and medicaid. the president is insisting that tax rates go up on families will accede to under $50,000 a year. house speaker john banar is adamant that any tax revenues come from overhauling the tax code. clearing tax breaks and lowering rates for everyone. >> two tickets last night. one was sold in arizona one was sold in missouri in both matched all six numbers. arizona lottery officials said they have no information on the winter. they look at now is where it was sold at a press conference. two very lucky ticket holders. >> authorities have released the two names of two teenage girls were shot and killed during a weekend in oakland. 16 year old bobbysartan and 16 euro raquel gerstall will found 6:00 a.m. sunday morning with multiple gunshot spirit please do not have a motive for the killings now. they do not know why the girl for on an
ABC
Nov 30, 2012 1:40am PST
of the fiscal cliff discussions and sat down for lunch with former rival mitt romney. >> i am sure they will or have already compared experiences on the campaign trail. >> today president obama hits the road to push for his plan to avoid the fiscal cliff. but republicans have slammed him for campaign-style politics that they say just won't get the job done. rob and sunny, back to you. >> can you really imagine that they're not going to reach some sort of deal to avoid the fiscal cliff? i mean that would be so unpopular across the nation. >> you would -- if you can take an action that would solve the problem for 98% of the country and then come back to the debate about the wealthiest 2%, let's get that first chunk done. republicans fear they could lose leverage if they cave in on the middle-class issue. apparently the president, his team has made increased demand here including, a provision now, part of the negotiations where, the congressional control over the debt limit would go away. and congress does not like to have its power take any way. so maybe the white house, upped the an
FOX News
Nov 29, 2012 3:00am PST
and looking at the fiscal cliff and talking about raising taxes that will not put a dent in the spending, so what is the answer? >> gretchen: the suggestion i make let's go back to the programs we had five or six years ago. there was a safety net five or six years ago. if you lost your job in 2006, you got some help but not the type of help people have got since then. we go back to that situation and maybe we have a hope much having a labor market go back to the way it was five or six years ago. >> gretchen: professor which politician, republican or democrat is going to be doing what you just said? >> not the ones from my district. >> gretchen: i mean, they are in eight bind are they not? republicans and democrats are in a bind. will be the one to come to the podium and say let's stop those unemployment benefits. >> it is a bind and the europeans worked it out before . they found helping for the unemployed is politically popular and economically damaging and they did it for decade upon decade and continue to do it. and so yeah, i am not optmistic that we will go back to where we were five ye
Search Results 0 to 16 of about 17